At the annual shareholder’s meeting, Elon Musk, CEO of Tesla, announced that the company will be delivering production Cybertrucks later this year, after experiencing manufacturing challenges. Musk stated that the Cybertruck would be the vehicle he drives on a daily basis. Once full production has been ramped up, Tesla intends to produce between 250,000 to 500,000 units per year. However, Musk admitted that it will be challenging to make the Cybertruck an affordable option for consumers, due to it being a new car made with a new manufacturing method.
Advertising and New Developments
Tesla has historically relied on word of mouth, influencer marketing, and other non-traditional methods of advertising. However, Musk has indicated that Tesla will experiment with traditional advertising methods to see how effective they are.
During the meeting, Musk also announced that Tesla plans to produce a new kind of drive unit that will require less silicon carbide than prior drive trains, and no rare earth elements. Additionally, Tesla will switch to a new, low voltage architecture in its cars, which should require less copper. Musk boasted about the company’s energy storage business and said growth in the sales of “big batteries” was faster than growth in the company’s core automotive segment. He also spoke optimistically about a humanoid robot in development at Tesla, referred to as Optimus, which Musk believes will be an important part of Tesla’s future in AI and AGI.
Musk also addressed rumors that he intends to step down from Tesla, stating that it is not true and that he believes Tesla’s value will be derived from Optimus and its real-world AI, which he claims is the most advanced of all tech companies today.
In conclusion, Musk predicted that the economy would pick up after 12 months and that Tesla will be well-positioned. He also stated that the forthcoming Cybertruck could be converted into an RV or a camper, but the company does not plan to build an RV at this time. Lastly, Musk committed to conducting a third-party audit of Tesla’s cobalt supply chain, to ensure there is no child labor within any of Tesla’s cobalt suppliers.
Leave a Reply